They Cracked the Code to a Locked USB Drive Worth $235M in Bitcoin

Re:They Cracked the Code to a Locked USB Drive Worth $235M i... by sorenjan on Tuesday October 24, 2023 @11:16AM (#38000357)

If there were a lot of applicants then maybe the Secretary problem would be applicable, but considering how few there are that can decrypt it i doubt there's an optimal split to be found theoretically. It probably comes down to how greedy or stubborn Stefan is, since theoretically he would profit even if he only kept 1%, but I doubt he would agree to those terms. 50% sounds reasonable to me.

https://en.m.wikipedia.org/wiki/Secretary_problem

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Re:They Cracked the Code to a Locked USB Drive Worth $235M i... by lwerdna on Tuesday October 24, 2023 @11:56AM (#38000994)

I don't follow. In a secretary problem, you have multiple offers, but can consider only one at a time, and cannot revisit past offers.

If there only one company can unlock, then it's just a 1:1 negotiation.

If there are multiple companies, Stefan can review bids and accept the lowest.

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Re:They Cracked the Code to a Locked USB Drive Worth $235M i... by saalweachter on Tuesday October 24, 2023 @04:21PM (#38004910)

It's not quite the secretary problem, but he does have the option to wait N years and see if someone else comes up with a technique, or if the technique eventually leaks.

Waiting 9 more years to unlock the drive for free versus taking 50% now is equivalent to investing at 8% annual returns.

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